Vertex Critical Update

Vertex is releasing an interim update on 12/23 to address the following Federal & State tax changes.  Has Orcale had a chance to test and/or approve this update yet?

Federal Tax Information

Federal Withholding
• Increased withholding allowance from $3,650 to $3,700.
• Increased additional withholding amount for non-resident alien employees from $2,050 to $2,100.
• Revised withholding tables.

Social Security
• Decreased employee Social Security tax rate from 6.2% to 4.2%.

State Tax Information

Colorado
• Increased withholding allowance from $3,650 to $3,700.
• Revised withholding tables.

Hawaii
• Increased withholding allowance from $1,040 to $1,144.
• Decreased maximum weekly employee SDI contribution from $4.51 to $4.42.

Maine
• Revised withholding tables.
Note: Added adjustment for Nonresident Aliens. If the employee is a Nonresident Alien, the annualized wages will be increased by the applicable standard deduction amount: Single ($5,800), or Married ($9,650). Parameter pNonResidentAlien Treatment must contain a value of ‘1’ for this adjustment to be calculated.